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Discount Office Systems uses a perpetual inventory system. The adjusted trial balance of Discount Office...

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Accounting

Discount Office Systems uses a perpetual inventory system. The adjusted trial balance of Discount Office Systems at March 31, 2018, follows:

Close Income Summary.

Discount Office Systems

Adjusted Trial Balance

March 31, 2018

Balance

Account Title Debit Credit

Cash $3,800

Accounts Receivable 13,100

Merchandise Inventory 31,400

Office Supplies 6,500

Equipment 42,400

Accumulated DepreciationEquipment $13,000

Accounts Payable 9,900

Salaries Payable 1,100

Notes Payable, long-term 7,900

Morris, Capital 26,250

Morris, Withdrawal 45,500

sales Revenue 233,000

Cost of Goods Sold 104,850

Selling Expense 26,700

Administrative Expense 14,800

interest Expense 2,100

$291,150

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